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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: Kenneth E. Phillipps who wrote (497120)11/22/2003 5:49:31 PM
From: Peter O'Brien  Read Replies (1) | Respond to of 769670
 
Not true, because the revenue derived from those
high marginal rates was actually slightly LESS
than the revenue derived from today's marginal
rates.

1962 revenue from individual income taxes = 8.0% of GDP
1963 revenue from individual income taxes = 7.9% of GDP

2002 revenue from individual income taxes = 8.3% of GDP

Kenneth, YOU ARE WRONG AGAIN.... (sigh)

cbo.gov